McKool Smith’s securities litigation practice has been named recognized by The National Law Journal in the publication's annual feature on “Elite Trial Lawyers." The feature honors law firms that have won the largest plaintiff awards during the past year, along with the leading plaintiffs firms in seven different practice areas (including employment law, product liability, and securities litigation, among others).
Over the past year, McKool Smith secured more than $400 million in settlements for investors involved in the failed Fontainebleau Resort and Casino project in Las Vegas, Nevada. In one case, the plaintiffs alleged that Jeffrey Soffer, the billionaire owner of the Fontainebleau Miami, and the other defendants defrauded the plaintiffs by misrepresenting the true costs of construction through an elaborate deception involving two sets of books. In the companion case, McKool Smith filed suit on behalf of approximately 40 lenders and investment companies accusing Bank of America of improperly inducing the companies to loan The Fontainebleau Resort project hundreds of millions of dollars, and then improperly teaming up with other banks to cut off their own financing to the resort. The plaintiffs further alleged that Bank of America violated the terms of a credit agreement that required it to disburse funds from revolving loans supporting the failed casino project.
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